The Real Deal New York

Top 10 biggest real estate projects coming to NYC

Hudson Companies, Flag Luxury punctuate an otherwise slow month

February 17, 2016 08:00AM
By Ariel Stulberg

From top left: David Kramer and 280 Cadman Plaza West in Brooklyn Heights; Paul Kanavos and 1185 Broadway in Nomad; a rendering of the new Pace Gallery at 540 West 25th Street in Chelsea

David Kramer’s Hudson Companies and Paul Kanavos’ Flag Luxury Properties swung for the fences last month, with permits filed for major projects in Brooklyn Heights and NoMad, respectively.

But on the whole, January proved a disappointing month for new development activity as the final expiration of the 421a tax abatement slowed last year’s torrent of new building activity to a relative trickle, according to data from PropertyShark.

Just three of last month’s projects cleared the 100,000-square-foot hurdle, and most weren’t even close. The tenth largest permit filed this month checked in at just 34,126 square feet. Modest residential buildings dominated the rankings, with all the boroughs nearly-equally represented (Staten Island excepted).

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David Kramer and 280 Cadman Plaza West in Brooklyn Heights

280 Cadman Plaza West, Brooklyn

David Kramer’s Hudson Companies finally made it official, filing a permit application for its planned 36-story, 294,773-square-foot condominium and rental building at the site of the Brooklyn Heights branch of the Brooklyn Public Library. The developer plans to build 134 condos and 114 affordable rental units at the site, also known as 1 Clinton Street.

The plans also call for a new 26,620-square-foot library branch to occupy parts of the building’s lower floors, as well as 931 square feet of retail space. To see all the top projects filed in Brooklyn last month, click here.

1185 Broadway, Manhattan

Hotelier Paul Kanavos is planning a 146-key hotel in NoMad, on the corner of Broadway and West 28th Street. The structure will stand 40 stories and encompass 164,389-square-feet of space, 11,190 square feet of which are earmarked for commercial use. Kanavos’ Flag Luxury Properties bought the site – along with the adjacent plot at 29 West 28th Street – back in February of last year, paying $100 million to commercial investor Clark Wile & Mayer. To see all the top projects filed in Manhattan last month, click here.

Paul Kanavos and 1185 Broadway in NoMad

Paul Kanavos and 1185 Broadway in NoMad

70-40 45th Avenue, Queens

Henry Lam’s King’s USA Group filed a permit application for a 10-story, 108,441-square-foot residential building in Elmhurst, just off Queens Boulevard. The Flushing-based developer is planning 94 apartments across 87,734 square feet of residential space, plus an additional 10,875 square feet of retail and 9,800 square feet for communities facilities. Lam assembled in the site in July and August of 2015, paying $13.5 million in total. To see all the top projects filed in Queens last month, click here.

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St. James Episcopal Church at 2500 Jerome Avenue in Fordham

2500 Jerome Avenue, Bronx

The St. James Episcopal Church filed an application to build a 12-story affordable rental building on part of its Fordham property. The planned 87,724-square-foot building will hold 91 apartments, and will have a 4,800-square-foot community facility on its ground floor. The actual developer on the project is unknown, but SLCE Architects is handling the design. To see all the top projects filed in the Bronx last month, click here.

134-31 Marrick Boulevard, Queens

White Plains-based developer Mike Humphrey is planning a four-story, 69,990-square-foot storage facility in St. Albans. The permit application calls for accessory office space on the first floor, as well as six loading berths. Virginia-based Butz Wilber is architect of record. The site is currently home to an auto wrecking yard, as well as a handful of warehouses.

305 West 128th Street, Manhattan

The Fane Organization, led by Jason and Daria Fane, filed a permit application for a pair of 10-story residential buildings in Harlem, between St. Nicholas Avenue and Frederick Douglass Boulevard. The two buildings – which will be linked by a common cellar – will contain 57 apartments between total, in a combined 53,074-square-feet of space. Kutnicki Bernstein is the architect of record.

540 West 25th Street

540 West 25th Street in Chelsea

540 West 25th Street, Manhattan

The Pace Gallery in Chelsea, working with Weinberg Properties, filed a permit application to redevelop its main building, with plans to build to build a 48,761-square-foot new building at the site, between 10th and 11th avenues. The eight-story structure will house a combination galleries, offices and event spaces. Bonetti/Kozerski Studio will be responsible for the building’s design.

82 Brown Place, Bronx

Cedarhurst-based developer Amritpal Sandhu is planning a 12-story, 47,468-square-foot hotel between Bruckner Boulevard and the Harlem River freight yards in the South Bronx. Jamaica-based Akson Architects is designed the building – to be known as the Mott Haven Hotel, according to New York YIMBY– which will contain 133 rooms.

848 Lorimer Street, Brooklyn

Dean Marchi’s Grand Street Development is planning a six-story, 36,270-square-foot residential building along McCarren Park in Greenpoint, between Nassau and Driggs avenues. The Stern Architects-designed building will contain 49 apartments, along with amenities such as a pet spa, bike storage, a gym and a lounge. Grand Street bought the building last year, along with partners, valuing it at $16 million, according to a lawsuit filed against Marchi by Douglas Elliman, that accused the developer of failing to pay the broker’s 4 percent commission on the sale.

48 Somers Street, Brooklyn

Jamaica-based developer Haim Levy is planning a seven-story, 34,136-square-foot residential, retail and commercial facility building between Rockaway Avenue and Mother Gaston Boulevard. It will house 24 apartments in 23,967 square feet of residential space, plus 5,000 square feet of retail and 5,2000 square feet for a community facility. Levy paid $2.1 million for the site last May. Briarwood-based Gerald Caliendo is the architect of record.

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